Slum Redevelopment Project

The main focus of the MCEM Studio is to study the feasibility of the project. This particular work is based on a slum redevelopment project. The first step is to identify the scope of work of the project.The following steps are carried out: identify the project brief or background to execute the project. The project has a total land area of 32,943 m2 and has shops. The project is a brownfield project divided into 24 blocks. The study aims to deal with the feasibility study to ensure the viability of the redevelopment project in Ahmedabad.The location analysis was done to finalize the appropriate location for the project. On the macro level, we found out why the Municipal Corporation chose that particular site. On a micro level, the location of the site is appropriate for redevelopment. After conducting a competitive study of the This site is found to be a suitable location for the redevelopment of the project.The work breakdown structure for the project baseline is prepared based on the scope of the project figured out after the context analysis. By dividing the project’s scope into different packages, We have a clear idea of the project.Project compliances touched on the different approvals and permissions required for the project. Compliances like Environmental certificate and permission are required in the inception stage of the project. To start the execution of the project, excavation and mining approval must be obtained. and all building plans and layouts should be approved by the Town Development Officer (TDO) of Municipal Corporation. Completion certificate, fire safety certificate, and lift use certificate are provided at the closeout phase of the project.The several risks that may impact the project are identified and classified as opportunities or threats in the risk management exercise. Financial analysis financial viability of the project is evaluated. We calculated how viable will be the project and calculated the net present value with the help of IRR calculation. We considered how the contractor will make a profit once the contractor gets the free sale of land. This will help us in the future to calculate the viability of the Contractor's project even before executing it.As mentioned above this Studio helped us to get a clear idea of what to be done in the pre-feasibility and feasibility stages of any project to measure the success of any project as well as its pros and cons even before executing it.